What is BOI reporting and do I need to file?
Under the March 2025 FinCEN rule: US-formed entities are exempt. Foreign-formed entities registered to do business in the US still file.
Beneficial Ownership Information (BOI) is a federal report identifying the natural persons who ultimately own or control a reporting company.
Under FinCEN's March 26, 2025 interim final rule, the definition of "reporting company" was narrowed to exclude entities formed in any US state. If your LLC was formed in Delaware, Wyoming, California, or any other US state, you are not a reporting company and do not file BOI.
Foreign-formed entities (formed under the laws of another country) that register to do business in any US state must still file. The initial report is due within 30 calendar days of US registration. Updates are due within 30 days of any change to beneficial ownership information.
Use our decision tree to confirm your specific situation, or have us file BOI if you are a foreign-formed entity.
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